Thursday, April 16, 2009

Let the Tea Parties Continue

Synchronized Tax Day Tea Parties were an excellent idea. While not always precisely in agreement around what they are protesting, the Tea Parties have a consistent central theme - Be afraid of BIG government - BE VERY AFRAID - and the corollary is be afraid of BIG BIG government spending (because it results in [what] BIG government).

Starting with President Bush's $168 billion economic stimulus, through the 2008 housing bailout, TARP I, TARP II, President Obama's trillion-dollar stimulus package, the auto bailout, etc. The Congressional Budget office estimates the president's budget (assuming he stays in power for 8 years) will add more than $10 trillion to the total federal debt by 2019 - approximately as much total debt as was outstanding at the beginning of 2007.

It feels like we need a revolution to unwind this mess. A total repudiation of the system, a truly blank piece of paper and a nod to Occam's Razor, would be helpful.

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